Coinbase defies Wall Street selloff as BofA flags investor exodus
Coinbase stock has climbed nearly 19% in the past five trading sessions even as Bank of America says investors are pulling money out of U.S. equities at the fastest pace since March. SummaryCoinbase has rallied nearly 19% in five trading days despite Bank of America reporting $17.2 billion in U.S. equity fund outflows.The exchange is expanding its European presence under MiCA while offering a 5% transfer bonus to attract users after rivals exited.Technical indicators show improving momentum, with Coinbase testing key trendline resistance near the $170 Fibonacci level. According to a Bloomberg report, Bank of America told clients that U.S. equity funds recorded $17.2 billion in outflows during the week ending July 1, the first weekly withdrawals since March. The banks note also showed that Japanese equity funds attracted $1.9 billion over the same period, their strongest weekly inflows since May, suggesting that investors are rotating capital away from U.S. stocks and into Japan. Despite that backdrop, Coinbase Global has continued to outperform. The stock closed 3.92% higher at $165 on July 2 and has rallied from about $139 on June 26, extending its five-day gain to roughly 19%. The rally has not been limited to Coinbase. Crypto-linked equities also advanced alongside the recovery in